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FirstService quarterly revenue up 34 per cent, earnings flat at US$8M
"Due to credit market conditions, there is currently very limited liquidity for commercial mortgage-backed securities" - Property services provider FirstService Corp. (TSX:FSV) is exiting the Canadian mortgage securitization business after a 34 per cent rise in quarterly revenue but a decline in earnings attributable to common shareholders.FirstService, headquartered in Toronto but with its business concentrated in the United States and its results reported in U.S. dollars, said Tuesday that acquisition-boosted revenue was $512.2 million in its third quarter ended Dec. 31, up from $374.8 million a year earlier. Read more